Commonwealth Equity Services LLC Acquires 2,518 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Commonwealth Equity Services LLC grew its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 41.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,559 shares of the aerospace company's stock after buying an additional 2,518 shares during the quarter. Commonwealth Equity Services LLC's holdings in AeroVironment were worth $1,317,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AVAV. Raymond James Financial Inc. bought a new stake in AeroVironment during the fourth quarter worth $46,789,000. Wellington Management Group LLP boosted its holdings in AeroVironment by 155.1% during the 3rd quarter. Wellington Management Group LLP now owns 321,479 shares of the aerospace company's stock worth $64,457,000 after acquiring an additional 195,443 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of AeroVironment by 9.4% in the 4th quarter. Baillie Gifford & Co. now owns 2,135,280 shares of the aerospace company's stock worth $328,598,000 after acquiring an additional 183,887 shares in the last quarter. Stephens Investment Management Group LLC raised its holdings in shares of AeroVironment by 40.0% in the fourth quarter. Stephens Investment Management Group LLC now owns 541,541 shares of the aerospace company's stock valued at $83,338,000 after purchasing an additional 154,703 shares during the last quarter. Finally, Heard Capital LLC raised its holdings in shares of AeroVironment by 25.5% in the third quarter. Heard Capital LLC now owns 592,136 shares of the aerospace company's stock valued at $118,723,000 after purchasing an additional 120,447 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Robert W. Baird cut their price target on shares of AeroVironment from $220.00 to $146.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. William Blair restated an "outperform" rating on shares of AeroVironment in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group reduced their target price on AeroVironment from $230.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AeroVironment has a consensus rating of "Buy" and a consensus target price of $202.40.

Insider Buying and Selling

In other news, CEO Wahid Nawabi sold 29,366 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the completion of the transaction, the chief executive officer now owns 115,174 shares in the company, valued at approximately $14,765,306.80. This represents a 20.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.27% of the stock is currently owned by insiders.

AeroVironment Stock Performance

AVAV traded down $9.25 during midday trading on Thursday, reaching $117.59. The company had a trading volume of 376,863 shares, compared to its average volume of 398,115. AeroVironment, Inc. has a 12-month low of $110.07 and a 12-month high of $236.60. The business has a 50-day moving average price of $147.99 and a two-hundred day moving average price of $174.86. The stock has a market cap of $3.32 billion, a PE ratio of 67.58 and a beta of 0.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61.

About AeroVironment

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.